Bluebird Resource Opens Door to Underground Risks and Rewards for Tennant Minerals

A Milestone Maiden Resource

Tennant Minerals has delivered a significant milestone with the announcement of its maiden Mineral Resource Estimate (MRE) for the Bluebird copper-gold discovery, part of its Barkly Project in Australia's Northern Territory. The resource totals 1.58 million tonnes grading 3.00% copper equivalent, incorporating copper, gold, silver, and bismuth. Notably, 68% of this tonnage is classified as Indicated, featuring higher grades that bolster confidence in near-term development prospects.

Open-Pit Potential and Strategic Collaboration

The resource is defined to a depth of 180 metres, suitable for open-pit mining, and is positioned to feed into the Tennant Creek Copper Alliance’s shared processing plan. This alliance, involving Tennant Minerals alongside CuFe Ltd and Emmerson Resources Ltd, aims to establish a centralized processing facility to reduce costs and environmental impact while enhancing project viability through economies of scale. Early metallurgical test work supports this strategy, demonstrating copper recoveries exceeding 90% and encouraging gold recoveries, which are critical to the project's economics.

Exploration Upside – Underground and Along Strike

Beyond the open-pit resource, drilling has intersected high-grade mineralisation at shallower depths below 180 metres, including impressive gold and copper grades. New gravity and magnetic modelling have revealed a large ironstone body extending westward, suggesting substantial underground potential that could more than double the Bluebird footprint. This geophysical insight opens the door to a long-term underground resource, with further drilling planned to test these extensions and other targets within a 3-kilometre strike corridor.

Geological Context and Resource Confidence

Bluebird’s mineralisation style aligns with the renowned high-grade ironstone-hosted copper-gold deposits of the Tennant Creek Mineral Field, a prolific mining district with a rich history. The resource estimate is underpinned by a robust drilling dataset comprising over 100 holes and extensive quality control measures. The high proportion of Indicated Resources reflects strong geological continuity and supports the conversion to Ore Reserves, a critical step toward development.

Next Steps and Market Implications

Tennant Minerals plans to accelerate exploration to expand the resource base, focusing on the open extensions and underground potential highlighted by recent modelling. The company’s integration within the Copper Alliance positions it well to leverage shared infrastructure, potentially fast-tracking production and cash flow generation. Investors will be watching closely as further drilling and metallurgical results unfold, which will clarify the project's scale and economic prospects.